EX-11 2 0002.txt COMPUTATION OF EARNINGS (LOSS) PER SHARE EXHIBIT 11 SIENA HOLDINGS, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (in thousands, except per share data)
Quarter Ended Six Months Ended December 31 December 31 --------------------- --------------------- 2000 1999 2000 1999 -------- -------- -------- -------- BASIC EARNINGS PER SHARE COMPUTATION: Net income available to common stockholders ......... $ 454 $ 8 $ 463 $ 33 ======== ======== ======== ======== Weighted average common shares outstanding .......... 6,000 6,000* 6,000 6,000* BASIC EARNINGS PER SHARE: Net income available to common stockholders ......... $ 0.08 $ 0.00* $ 0.08 $ 0.01* ======== ======== ======== ======== DILUTED EARNINGS PER SHARE COMPUTATION: Income available to common stockholders ............. $ 454 $ 8 $ 463 $ 33 Income effect of assumed conversions ................ -- -- -- -- -------- -------- -------- -------- Net income available to common stockholders + assumed conversions .......................... $ 454 $ 8 $ 463 $ 33 ======== ======== ======== ======== Weighted average common shares outstanding .......... 6,000 6,000* 6,000 6,000* Plus: Dilutive potential common shares under the SHI Nonqualified Stock Option Plan and Directors' Nonqualified Stock Option Plan 136 123* 126 92* -------- -------- -------- -------- Adjusted weighted average shares outstanding ........ 6,136 6,123* 6,126 6,092* ======== ======== ======== ======== DILUTED EARNINGS PER SHARE: Income available to common stockholders ............. $ 0.07 $ 0.00* $ 0.08 $ 0.01* Income effect of assumed conversions ................ -- -- -- -- -------- -------- -------- -------- Net income available to common stockholders + assumed conversions .......................... $ 0.07 $ 0.00* $ 0.08 $ 0.01* ======== ======== ======== ========
* Average share and per share amounts are based on shares issued or reserved for issuance to creditors. 18